America’s Cup, city reach new development agreement

A compromise agreement between San Francisco and the America’s Cup organizers will save some of the city’s most treasured public views of the bay from being blocked by a proposed marina for the mega-yachts of the ultra-rich.

Under the new plan, the organizers will give up their long-term development rights for piers 14 to 22 ½ in exchange for the rights to develop Pier 54 in Mission Bay.

“This will move the (planned) long-term marina from what is a passive area to a portion that is more a working waterfront,” said Monique Moyer, executive director of the port.

The original agreement would have given the promoters the right to develop the section of the waterfront by the “Cupid’s Span” sculpture by Rincon Park, a spot that now provides one of the only open water views of the bay and the Bay Bridge along the Embarcadero. Plans were to turn the area into a spot for visiting yachts too large for other marinas.